New pharmaceutical company opens in Canada

Sterinova to specialise in developing and manufacturing sterile ready-to-use injectable products.

The new company, based in Saint-Hyacinthe, in the Montérégie region, is the result of a total investment of approximately $70 million, made by the Fonds de solidarité FTQ, Quebec Manufacturing Fund (QMF), Saint-Hyacinthe Technopole through the Pharmaceutical Development Centre for the construction of the building and the City of Saint-Hyacinthe for guarantee funding, Desjardins, Investissement Québec and Canada Economic Development for Quebec Regions (CED).

“Sterinova is one of the few pharmaceutical companies in the world to be entirely dedicated to the manufacture of ready-to-use injectable products. Its state-of-the-art technology and its production capacity will make Sterinova an important Canadian player on international markets,” declared Jean-Philippe Gentès.

“The Government of Canada supports enterprises that play a fundamental role in economic growth and job creation to improve economic prospects and security of Canadians. As Minister of Innovation, Science and Economic Development and Minister responsible for CED, I aim to help businesses grow, innovate and export, so that they can create quality jobs and wealth for Canadians,” said the Honourable Navdeep Bains.

“The Québec government is proud to invest $2.3 million in this project that is contributing to the Montérégie region’s economic development. The new plant’s operations will bolster manufacturing in Québec’s life sciences sector and its expertise in the production of value-added products. Our government’s investment is contributing to the establishment of state-of-the-art facilities,” Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy Dominique Anglade noted.

For Gaétan Morin, President and CEO of the Fonds de solidarité FTQ: “Since 1989, we invested $1.2 billion in Quebec’s life sciences industry. This long experience and a specialized team of 8 people allow the Fund to support dynamic entrepreneurs who invest and above who invest in their business. Jean-Philippe Gentès and Bertrand Bolduc, the founders of Sterinova, are the proof of that. We were the at the launch with Léon Gosselin and the Jafaco group, and we are still here with a total investment of $9 million in venture capital.”

Jean Rochette, for the Quebec Manufacturing Fund: “With this $7 million investment in venture capital, the Quebec Manufacturing Fund wants to support Sterinova in achieving its full potential for growth and value creation. We plan to leverage our expertise in manufacturing and business development to support the company in optimizing its operations.”

Located in the City of Biotechnology in Saint-Hyacinthe, one of the most important economic centers in Quebec and Eastern Canada, Sterinova is a site approved by Health Canada since 2015 for the manufacture of sterile biological products. The building of 6,225 m2 (67,000 square feet) was planned to allow to double its size. The plant is equipped with fully automated equipment and the whole production process meets the Canadian Good Manufacturing Practices (cGMP) and they have an objective to meets the European and American requirements.

“Sterinova’s establishment in Saint-Hyacinthe promises worthwhile economic spinoff for the Montérégie region but also from the standpoint of enhancing the region’s influence as a recognized hub for expertise in the pharmaceutical sector. It is also a major asset for the Cité de la biotechnologie, which can rely on a key stakeholder in the life sciences sector to broaden its visibility and consolidate its operations,” Minister for Rehabilitation, Youth Protection, Public Health and Healthy Living and Minister responsible for the Montérégie region Lucie Charlebois said.